Eldershield Upgrade Comparison [2020]: The Ultimate Guide

Are you looking for the best Eldershield upgrade comparison? 

You’re at the right place!

This is the most comprehensive review you’ll need (or find)

We’ll be comparing head-to-head Aviva’s Mycare, Great Eastern’s Eldershield Comprehensive and NTUC’s PrimeShield.

Let’s jump right in!

 1. What are Eldershield Supplement Plans and Should You Upgrade?

Eldershield Supplement plans are ElderShield upgrades. Some insurance agents call it enhanced ElderShield. 

They serve as an add-on to your existing basic ElderShield plan.

Basically, it gives you higher payout amount, longer payout duration and additional features such as the “dependent benefit” and “get well benefit”. 

We’ll examine the different features down below…

But Should You Upgrade?

Do a simple test by asking yourself this question:

“Is the basic ElderShield coverage of $400/ month for 6 years enough if you need long-term care?”

If your answer is no, you should consider upgrading ElderShield.

2 things to keep in mind:

By the time we actually need long-term care…

1. We probably won’t have monthly income any more

2. $400 today will only be worth about $200 twenty years later (because of inflation)

If you’re looking to upgrade your ElderShield, read on for the ultimate comparison between the 3 insurance companies. 

2. Which Eldershield Supplement Pays Out More

I’m sure you want the best bang for your buck when choosing the right upgrade option, right?

To help you do that, we went ahead and analyzed the premium tables from Aviva, Ntuc and Great Eastern.

Here are some of the things we looked out for:

  • % Return on premiums 
  • Coverage ($) per dollar of premium
  • Lowest total premium
  • Highest monthly allowance per month (by fully utilizing your Medisave up to the cap limit of $600 per year)

Here are the criteria we use:

  • Only use Medisave to pay — No cash
  • Sign up age: 41 & 55
  • Longest premium term possible. (so you’ll get the lowest premium every year and stay within the Medisave withdrawal limit)
  • Claim at age 70
  • Claims for 10.6 years (which is the expected years in ill health according to TODAYonline)

And here are the results:

The highest % return on premium paid goes to Aviva MyCare.

For every $1 of premium paid, you will get back $10.78 in payout for men and $8.29 for ladies.

NTUC income has the cheapest total premium if you don’t need to make a claim.

And for the highest monthly payout amount, it’s Aviva MyCare again at $1,600/ month for males and $1,200/ month for females.

Now let’s look at the different features.

3. Eldershield Supplement Features Comparison


Benefits for your dependents

It’s tough if a person becomes disabled, and their children are still schooling. 

To give an extra layer of support, here is what Aviva and Income will provide:

Aviva — $200 per month for 36 months 

Income — additional 20% of the monthly benefit for 36 months.

Great Eastern — None

If you are paying only with Medisave, both companies work out to be pretty similar.

But if you are 43yo and above, Aviva actually gives out more than NTUC Income.

Recovery Benefits

If a person initially claims under 3 out of 6 Activities of daily living (ADL) and gets better (2/6 ADL), the payout will stop.

But under Aviva MyCare, the patient will still be able to claim 50% of the monthly benefit since he/she will still need help and treatment.

How about full recovery from severe disability?

NTUC Income will provide a one-time payout of 3X the monthly benefit if a person is fully recovered.

But to be honest, full recovery from severe disability is rare. Partial recovery is more likely to happen.

2/6 ADL

The usual definition for severe disability is the inability to perform 3 out of 6 ADLs.

But what if a condition is less severe?

The patient can’t work, needs help but cannot make a claim!

That’s a terrible place to be at.

So for Aviva MyCare and Great Eastern’s Eldershield Comprehensive, they do provide claim options for 2 out of 6 ADL instead of 3 out of 6 ADL (premium will be higher but still payable with Medisave).

NTUC Income doesn’t have the 2/6 ADL option.

Premium period

All 3 companies have a different premium payment period. 

Since the standard retirement age is at 65yo, both Aviva and Income gives you the option to stop paying premiums at age 65.

But of course, the premium amount will be higher since the period is shorter.

On the other hand, Great Eastern has only one option at age 80.

Which is better?

It really depends on your needs. 

For me, I choose to pay the premium for life. 

Two reasons:

1) Lowest premium per year since the payment period is being stretched out.

This ensures that my Medisave interest, which is generated automatically up to 5% per year, is enough to pay for the premium every single year.

Log into CPF to check your Medisave balance.

In fact, I’ll try to make sure that my Medisave Interest is higher than the premiums.

2) Since there’s premium waiver upon making a claim, I don’t want to pay up all the premium quickly.

I rather stretch out the payment period for as long as possible.

So if severe disability were to happen, I don’t have to pay for the remaining premiums.

Here’s an example:

If a person make a claim at age 67, he would have finished all his payment under NTUC Income.

But if he were under Great Eastern or Aviva, all his future premiums that are yet to be paid, will be waived.


Now let’s look at discounts and perks.

Suggested Read >> The Ultimate Guide to CareShield Life

4. Discounts and Perks

Aviva $100 discount + Exclusive privilege card (discount for health and wellness programmes and health screenings)

Income No promotion currently

Great Eastern No promotion currently

5. Verdict

Here’s what I think:

If you want the highest payout per month, go with Aviva Mycare.

Aviva Eldershield upgrade gives you the highest monthly allowance of $1200 ~ $1,600 per month.

If you’re looking for the lowest premium, go with NTUC Income.

Income’s PrimeShield has the lowest overall premium. But only if no claim is made.

If you are looking for an easier claim definition, then go with either Great Eastern or Aviva.

You’ll have the option to choose between 2ADL or 3ADL claim definition.

If you are looking for value, choose Aviva.

In the event of a claim, Aviva will give you back more disability income for every dollar of premiums paid. See the table above for more details.

Still confused and not sure which to go for? 

Let us do a free personalized comparison for you. Click here to get more info.

Either way, I hope this article has been able to give you deeper insights into the different ElderShield upgrade options.

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